Question
Sarasota Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $10,510 $11,620 Camcorders
Sarasota Corp. accumulates the following cost and net realizable value data at December 31.
| Inventory Categories | Cost Data | Net Realizable Value | ||
|---|---|---|---|---|
| Cameras | $10,510 | $11,620 | ||
| Camcorders | 8,470 | 9,240 | ||
| DVDs | 12,120 | 10,790 |
Compute the lower-of-cost-or-net realizable value for companys inventory.
| The lower-of-cost-or-net realizable value |
|---|
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Financial Accounting
Authors: Pauline Weetman
8th Edition
129224447X, 9781292244471
